U.S. Stock Futures Power Ahead, Tracking China Markets
U.S. stock futures rose sharply on Tuesday as Chinese stocks rebounded in the wake of data showing that China's economy grew for 2015 at its slowest pace in a quarter of a century. Dow Jones Industrial Average futures surged 210 points, or 1.3%, to 16,123, while S&P 500 futures jumped 25.20 points, or 1.3%, to 1,900. Nasdaq 100 futures gained 56.75 points, or 1.4%, to 4,197.75. U.S. stock and bond markets will reopen after closing Monday for the Martin Luther King Jr. holiday. The Shanghai Composite rose 3.2% after weak GDP data triggered expectations of stimulus from Beijing. U.S. crude oil rose 32 cents, or 1%, to $30.70 a barrel, while Brent crude added 73 cents, or 2.7%, to $29.27 a barrel. Over the weekend, sanctions on Iran were lifted, and the oil market is now braced for an influx of supplies from the country.
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